Cascading of larger ships into the Asia-East Coast of South America (ECSA) trade lane has seen spot rates drop from 3,800 USD/TEU to 2,200 USD/TEU in just 11 weeks, data from SeaIntel shows. As indicated, in April 2017, the weekly capacity on the trade lane reached a low point at 23,500 TEU offered
The captain and 1st engineer of a vessel involved in oil-spill cleanup efforts in Greece have been arrested on fuel smuggling charges, Greek Merchant Ministry said. Namely, the Lassea vessel has been contracted to help clean the oil that spilled following the sinking of the oil tanker Agia Zoni II o
Russia’s largest independent natural gas producer, Novatek, is set to start up the first liquefaction train at its Yamal LNG project in November.
Iran, the country offering 17 per cent of the world’s total oil reserves and 40 per cent of the world’s gas resources, is still a hot topic within the offshore energy industry. Furthermore, Iran holds the largest hydrocarbon reservoirs in the world and 9.3 per cent of the world’s total gas reserves,
Manor Renewables Energy (MRE) has taken workspace at OrbisEnergy, Lowestoft, Suffolk, as their headquarters for operations at the Galloper offshore wind farm.
Bermuda-based Golar LNG on Thursday said the Iain Ross has been named as the company’s new CEO, replacing Oscar Spieler.
Global maritime industry group Wilhelmsen has increased its shareholding in Norwegian service provider to the oil and gas industry NorSea Group from 40 percent to around 72 percent. As a result of the transaction, Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS will hold approximately 12 per
Members of the Maritime Union of Australia (MUA) working onboard pilot cutters operated by the Port Authority of New South Wales from Port Jackson and Port Botany have announced a 24-hour work stoppage for next week. The industrial action is scheduled to take place on Tuesday, September 26, starting
Following the fatal collisions between US Navy ships and merchant vessels and the loss of 17 sailors since the beginning of this year, the Navy’s ships will become more visible in high traffic areas so as to avoid such incidents occurring in the future. Chief of Naval Operations Adm. John Richardson
Fluxys Belgium, the operator of the Zeebrugge LNG terminal, on Wednesday said its net profit rose in the first six months of 2017 as the small-scale LNG business keeps rising.
Norway’s Aker Solutions won a contract from Statoil for front end engineering and design of a module that will increase production at the Troll gas field in the North Sea, offshore Norway. The order includes an option for engineering, procurement, construction and installation of the module, which w
Australia’s Santos, the operator of the GLNG project on Curtis Island, said on Thursday that non-executive director Roy Franklin will retire from the company’s board. The retirement is effective September 30, 2017. Franklin has recently been appointed as Chairman of Premier Oil in the United Kingdom
Unique Group, a subsea and offshore solutions provider, has entered into a cooperation agreement with UK-based Innovo. Unique Group said on Wednesday that, as part of the agreement, the two engineering and manufacturing companies would collaborate to provide sales and rental equipment and engineerin
American Bureau of Shipping (ABS) has been selected by Dorian LPG to provide techno-economic analysis, laying out compliance options for impending global sulfur cap requirements.
